Summer is a great time to evaluate your finances, including your savings account.
As we are already deep in the summer season, you may be feeling the hit of extra summer spending. We know it is hard to save throughout the summer season with so many fun activities and events to attend. That is why we want to help!
Now is a great time to evaluate your savings habits, including the type of savings account you are using. Here are a few questions to ask yourself if the time is right to select a savings account that will get you excited about saving money again:
- What are your savings goals? Short and long-term savings goals are important to know as they help you determine many of the answers to the next two questions…
- How large of a balance do you want to carry? There are minimum required balances on many savings accounts, as well as limitations on earning interest at certain balance levels.
- How accessible do you need your money to be? Remember, this is money that you may need in an emergency, so the more accessible the better. ATM accessibility or the ability to make transfers through online banking or mobile banking are things to look for.
- What services are included? Additional services like online banking or mobile banking that add convenience are a bonus.
- What fees go with this savings account? Withdrawal limit fees, minimum required balance fees, transfer limit fees and other fees may apply, so be sure you know which could apply to you.
The right savings account helps you save effortlessly while offering the amenities and access you need for success. For the best success selecting a savings account at Timberwood Bank, call us or stop by and speak to a personal banker today!
Timberwood Bank, Member FDIC and Equal Housing Lender